Tag: Parag Agrawal

Elon Musk sued by former Twitter execs Parag Agrawal, Vijaya Gadde, others
5Mar By adminNo Comments
Technology

Elon Musk sued by former Twitter execs Parag Agrawal, Vijaya Gadde, others

[ad_1] In shocking news, X owner Elon Musk was sued by four former Twitter executives on Monday for unpaid $128 million severance payments and some other allegations. Twitter's former CEO Parag Agrawal, former Chief Financial Officer Ned Segal, former Chief Legal Counsel Vijaya Gadde and former General Counsel Sean Edgett have also stated that they were fired without any hard reason. The lawsuit includes several claims against Elon Musk and the rebranding of Twitter to X. Know more about the news here. Musk sued by former executivesAccording to an AP report, it is being stated that the reason showcased in the lawsuit was that they were terminated without explanation on the day in 2022 when Musk finalised his acquisition of Twitter. It is also being said that Musk did not want to pay sev...
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Ousted Twitter CEO Parag Agrawal is back with an AI startup; gets $30 mn in funding led by Khosla Ventures
12Jan By adminNo Comments
Technology

Ousted Twitter CEO Parag Agrawal is back with an AI startup; gets $30 mn in funding led by Khosla Ventures

[ad_1] Twitter (which goes by X now), has been on a whirlwind journey in the last couple of years. Back in 2021, then-CEO Jack Dorsey stepped down and was replaced by CTO Parag Agrawal. However, his tenure was short-lived as billionaire Elon Musk took over the microblogging platform just a year later, sparking a mass exodus of employees from the company. Since then, the myriad of changes has included new features and a complete rebranding to X. Meanwhile, not much was known about ousted CEO Parag Agrawal's fate. But that's not the case anymore, as Agrawal is back with an artificial intelligence (AI) startup that has already raised $30 million in funding that is led by Khosla Ventures. Parag AgrawalAgrawal joined Twitter 10 years ago when there were fewer than 1,000 employees in the comp...
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SEC Probes Twitter Security Lapse Before Elon Musk Took Over
11Oct By adminNo Comments
Technology

SEC Probes Twitter Security Lapse Before Elon Musk Took Over

[ad_1] The Securities and Exchange Commission is investigating how Twitter Inc. managed a 2018 security lapse that exposed personal user information before billionaire Elon Musk bought the social media platform last year. The agency has been scrutinizing whether the former top executives failed to adequately disclose those privacy issues to shareholders or put in place proper controls, according to people familiar with the matter who asked not to be identified discussing a confidential investigation. A bug on the social media platform had let outsiders view user email addresses during password resets, which revealed the identity of users, said one of the people.The executives in charge at the time included Twitter's former Chief Financial Officer Ned Segal and former Chief Technology Of...
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Why Elon Musk’s first week as Twitter owner has users flocking elsewhere
5Nov By adminNo Comments
Technology

Why Elon Musk’s first week as Twitter owner has users flocking elsewhere

[ad_1] It's been a week since Elon Musk strode into the Twitter headquarters with a kitchen sink, signalling his official takeover of the company.Having had some time to let the news of his US$44 billion (about A$70 billion) purchase “sink in”, Twitter users are now wondering what he'll do with the platform. What's Musk going to do with Twitter?After months of trying to walk away from his commitment to buy the platform, and just before entering what was looking to be a long, potentially embarrassing and costly court battle to enforce his original agreement, Twitter is now privately owned. If we wade through some of the early reactionary media punditry, we see Musk has paid far too much for a platform that has not yet fulfilled its business potential to investors, nor its social potenti...
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Elon Musk Plans To Eliminate 3700 Twitter Jobs to Cut Costs
3Nov By adminNo Comments
Technology

Elon Musk Plans To Eliminate 3700 Twitter Jobs to Cut Costs

[ad_1] Elon Musk plans to eliminate about 3700 jobs at Twitter Inc., or half of the social media company’s workforce. (Bloomberg) -- Elon Musk plans to eliminate about 3,700 jobs at Twitter Inc., or half of the social media company's workforce, in a bid to drive down costs following his $44 billion acquisition, according to people with knowledge of the matter.Twitter's new owner aims to inform affected staffers Friday, said the people, who requested anonymity discussing non-public plans. Musk also intends to reverse the company's existing work-from-anywhere policy, asking remaining employees to report to offices -- though some exceptions could be made, the people said. Musk and a team of advisers have been weighing a range of scenarios for job cuts and other policy changes at San Fran...
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Parag Agrawal, Vijaya Gadde, Ned Segal not to be paid compensation by Twitter?
30Oct By adminNo Comments
Technology

Parag Agrawal, Vijaya Gadde, Ned Segal not to be paid compensation by Twitter?

[ad_1] Twitter's new owner Elon Musk fired top executives according to reports. Know the reason why. Twitter's new owner Elon Musk fired top executives in an effort to avoid hefty severance payouts, while lining up other layoffs as soon as Saturday to avoid stock grants due on Nov. 1, according to media reports on Saturday. Musk fired Twitter Chief Executive Parag Agrawal, Chief Financial Officer Ned Segal and legal affairs and policy chief Vijaya Gadde on completion of a high-profile $44 billion buyout of the social media platform on Thursday, people familiar with the matter told Reuters. He had accused them of misleading him and Twitter investors over the number of fake accounts on the platform. According to research firm Equilar, the executives stood to receive separation payo...
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India cracks whip against Twitter, Facebook, others over contentious posts, notifies rules
28Oct By adminNo Comments
Technology

India cracks whip against Twitter, Facebook, others over contentious posts, notifies rules

[ad_1] In a big development today, India has notified rules under which it will set up 3-member Grievance Appellate Committee(s), which will redress grievances of users against decisions made by social media platforms including Twitter and Facebook over contentious content on their platforms. These will be set up within a three-month period, according to a gazette notification issued by MeitY (Ministry of Electronics and Information Technology). Interestingly, this comes on the day that Indian origin Twitter CEO Parag Agrawal was sacked by the new owner, billionaire Elon Musk.In its reaction, digital rights advocacy group Internet Freedom Foundation in a tweet said: "The notified Amendment Rules cause injury to the digital rights of every Indian social media user." The content that the...
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Elon Musk to Become Twitter CEO, Reverse Life Bans
28Oct By adminNo Comments
Technology

Elon Musk to Become Twitter CEO, Reverse Life Bans

[ad_1] Elon Musk plans to assume the role of CEO at Twitter Inc. after completing his $44 billion acquisition. Elon Musk plans to assume the role of chief executive officer at Twitter Inc. after completing his $44 billion acquisition, taking the helm of the social media giant on top of leading Tesla Inc. and SpaceX.Musk intends to replace Parag Agrawal, who was fired along with other major executives upon completion of the takeover, a person familiar with the matter said, asking not to be identified discussing internal deliberations. The billionaire is expected to remain CEO in the interim but may eventually cede the role in the longer term, the person added. Twitter representatives declined to comment. Musk's acquisition puts the world's richest man in charge of a struggling social n...
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